HSBC thinks OPEC will reach "some form of deal" at its meeting next week, but "large hurdles remain and actual supply might not fall." The United States Oil Fund (USO) is up 0.6% today, while oil prices are flat. ExxonMobil (XOM) shares are fractionally higher, while shares of Brazil producer Petroleo Brasileiro or Petrobras (PBR) are fractionally lower. This week, Petrobras Argentina (PZE) is one of the worst performers, down roughly 5%, while PetroChina (PTR) is up 3%.

With no blockbuster announcement from day two of OPEC oil production discussions in Doha -- energy bigwigs from Iran and Iraq were absent -- Goldman Sachs expects downside risk for crude prices in the near term, and range-bound trading otherwise. The U.S. oil price marked a similar superlative, with a rise of more than 5% on the week to $45.69. The SPDR S&P 500 exchange-traded fund (SPY) finished the week with a gain of 1%, while the iShares MSCI Emerging Markets ETF (EEM) was flat.